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Fannie Mae sells off $26 million in NPLs to nonprofit

MLG Capital acquired the 350-unit multifamily property northeast of downtown Clearwater, Fla., assuming more than $28 million in Fannie Mae financing from the seller. Tampa 04 July 2019 11:01.

Fannie Mae sells off $26 million in NPLs to nonprofit Fannie Mae announced the winning bidder of its sixth community impact Pool of non-performing loans. The winner, New Jersey Community Capital, is a nonprofit community development financial institution.

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Fannie Mae sells off $26 million in NPLs to nonprofit By Kelsey Ramirez | Housing Wire Fannie Mae announced the winning bidder of its sixth Community Impact Pool of non-performing loans.

“Investigation of the Conversion of the $1.7 Million Centralized White House.. H.R. 680, transfer of surplus personal property for donation to nonprofit.. allowed information technology products [IT] to be sold to State and local entities off the.. the Federal National Mortgage Association (Fannie Mae); the Federal Home.

Additional performance data on the NPLs covered by this report as well as performance data on loans sold after December 31, 2016 will be provided in future reports. FHFA NonPerforming Loan Sales Report December 2016 Quantity and attributes of NPLs sold from August 1, 2014 through December 31, 2016;

Non-Performing Loan Sales. In an effort to reduce substantial inventories of non-performing loans (NPLs) and improve borrower outcomes, in 2014 FHFA approved a pilot program by Freddie Mac to sell NPLs and later approved sales of NPLs by both Enterprises. FHFA announced enhanced requirements for the Enterprises’ NPL sales in March 2015.

A nonprofit financial institution won the bid for Fannie Mae’s sixth Community Impact Pool of non-performing loans. This deal on nearly $26 million in NPLs is expected to close near the end of May.

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 · Both Fannie Mae and Freddie Mac feature smaller, geographically-concentrated pools of loans in their NPL auctions that are targeted for participation by non-profits. Fannie Mae has sold two such pools of loans to non-profit New Jersey Community Capital. In their letter, the lawmakers called this a “step in the right direction.”

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